A securities class action has been filed against Newmont Corporation (NEM) on behalf of all investors who purchased or otherwise acquired Newmont securities between February 22, 2024 through October 23, 2024. This case has been filed in the USDC – CO.
According to the complaint, on October 23, 2024, Newmont published a press release announcing disappointing EBITDA third quarter 2024 highlights, in addition to decreases in production and increases in operating costs. In pertinent part, Newmont revealed that mining operations at its two Tier 1 assets would see lower production than originally guided with expectations of higher costs at these facilities.
Following this news, Newmont’s stock price fell from a closing market price of $57.74 per share on October 23, 2024 to $49.25 per share on October 24, 2024.